MADISON, Wis.--(BUSINESS WIRE)--The Hammes Co. and Majestic Realty today announced that they have
submitted a proposal to the City of Madison for the Judge Doyle Square
project that brings together world-class architecture in a mixed-use
setting and could relocate Exact Sciences to downtown Madison. The
project also would strengthen Monona Terrace and the downtown as
compelling destinations, and bring $125 million in private investment
from the real estate developer for the 1,000,000-square-foot project.
Exact Sciences would occupy 250,000 square feet as the anchor tenant.

The proposal was developed in partnership with Exact Sciences, one of
Dane County’s fastest growing employers. Ground could be broken for the
project as early as December 2015.

“Our proposal offers a rare chance to relocate a company’s corporate
headquarters to the center of our downtown,” said Bob Dunn, president of
the Hammes Co. “We are working closely with Exact Sciences to develop
these facilities in the Madison area. Our strong preference is to locate
them as the anchor of the Judge Doyle Square development.”

It is believed that the last time a major employer like Exact Sciences
brought its corporate headquarters downtown was in 1975, when Verex
moved to its new headquarters on Lake Mendota.

In addition to the potential for Exact Sciences to lead the facility as
the anchor tenant, the project includes an urban hotel, entertainment
establishments, terraced gathering areas on Pinckney Street, a public
food hall, health and wellness facilities and other amenities. The
project does not include any direct tax incremental financing or TIF
support for any private component of the project.

“Welcoming an innovative tech company like Exact Sciences and bringing
hundreds of highly-skilled workers downtown is an enormous opportunity
for the City of Madison,” said Kevin Conroy, chairman and CEO of Exact
Sciences. “This partnership is a chance to invigorate an underdeveloped
corner of the city, grow Madison’s tax base and help Exact Sciences
attract top talent as we continue expanding.”

The proposed urban hotel complements the other mixed-use components of
the project at street level. These components are crafted to create a
new enhanced experience for guests of downtown, the hotel and Monona
Terrace. The hotel’s room inventory will enhance the competitive
position of Monona Terrace in attracting large events.

“We have created an exciting plan for Judge Doyle Square,” Mr. Dunn
said. “It brings together a combination of uses that will strengthen our
downtown and activate Judge Doyle Square 365 days a year. One of our
most important objectives has been to assemble the amenities that
strengthen Monona Terrace and the city as a destination. As a result, we
believe the economic and fiscal impact on the city of Madison exceeds
other proposals that have been presented for Judge Doyle Square.”

A conference center with multipurpose meeting and function space is
incorporated in the project to support Exact Sciences offices and can be
scheduled for use by the hotel and Monona Terrace. Additionally,
city-owned and financed meeting facilities could provide supplementary
space to allow Monona Terrace to attract more of the lucrative
large-scale events with the flexibility of additional ballroom and
breakout meeting room spaces.

“As we consider a variety of options for a corporate headquarters in
partnership with the Hammes Co., the plan that Bob and his team have put
together is very attractive and heightens our desire to relocate to
downtown,” Mr. Conroy said. “It also provides a vision for the entire
site that is compelling for all of downtown and the broader community.”

The development will also include a food hall and a multi-faceted indoor
market that showcases a variety of local food vendors. It would offer an
additional dining option suitable for everything from lunch for an Exact
Sciences employee to dinner for hotel guests to group dining associated
with a Monona Terrace event.

“Our firm is involved with many projects around the United States that
are designed to bring year-round activation and stronger fiscal strength
to these communities,” said Mr. Dunn. “What is important to understand
about our proposal is this public-private partnership is designed to
complement Monona Terrace in a way that we can compete more effectively
as a destination community.”

About Exact Sciences

Exact Sciences Corp. (NASDAQ: EXAS) is a molecular diagnostics company
focused on the early detection and prevention of colorectal cancer. The
company has exclusive intellectual property protecting its noninvasive,
molecular screening technology for the detection of colorectal cancer.
Cologuard is included in the colorectal cancer screening guidelines of
the American Cancer Society and stool DNA is included in the U.S.
Multi-Society Task Force on Colorectal Cancer. For more information,
please visit the company's website at www.exactsciences.com,
follow us on Twitter @ExactSciences or find us on Facebook.

Certain statements made in this news release contain forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities and Exchange Act of
1934, as amended that are intended to be covered by the “safe harbor”
created by those sections. Forward-looking statements, which are based
on certain assumptions and describe our future plans, strategies and
expectations, can generally be identified by the use of forward-looking
terms such as “believe,” “expect,” “may,” “will,” “should,” “could,”
“seek,” “intend,” “plan,” “estimate,” “anticipate” or other comparable
terms. Forward-looking statements in this news release may address the
following subjects among others: statements regarding the sufficiency of
our capital resources, our ability to secure favorable reimbursement
rates from Medicare and other third-party payors, timing of our launch
of a commercial product, our estimates of the available market size and
our potential penetration, expected research and development expenses,
expected general and administrative expenses and our expectations
concerning our business strategy. Forward-looking statements involve
inherent risks and uncertainties which could cause actual results to
differ materially from those in the forward-looking statements, as a
result of various factors including those risks and uncertainties
described in the Risk Factors and in Management’s Discussion and
Analysis of Financial Condition and Results of Operations sections of
our most recently filed Annual Report on Form 10-K and our subsequently
filed Quarterly Reports on Form 10-Q. We urge you to consider those
risks and uncertainties in evaluating our forward-looking statements. We
caution readers not to place undue reliance upon any such
forward-looking statements, which speak only as of the date made. Except
as otherwise required by the federal securities laws, we disclaim any
obligation or undertaking to publicly release any updates or revisions
to any forward-looking statement contained herein (or elsewhere) to
reflect any change in our expectations with regard thereto or any change
in events, conditions or circumstances on which any such statement is
based.